11. CAPITAL STOCK

3 Months Ended

Mar. 31, 2016

Notes to Financial Statements

11. CAPITAL STOCK

On January 6, 2016, the Company repurchased 1,750,000 shares of its common stock at $0.90 per share for a total purchase price of $1,575,000.  The shares were returned to treasury and cancelled.

On July 9, 2015, the Company issued 8,000 shares upon the exercise of employee stock options.